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TeachMeFinance.com - explain Gross Domestic Product gross domestic product (GDP) -- The total market value of goods and services produced domestically during a given period. The components of GDP are consumption (both household and government), gross investment (both private and government), and net exports. another definition... Gross domestic product -- The total value of a nation's output, income, or expenditure produced within its physical boundaries. another definition... Gross Domestic Product -- A measure of the market value of all goods and services produced within the boundaries of a nation. It excludes income from external enterprises or investments. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.